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George Osborne has published his tax returns (Picture: REUTERS/Suzanne Plunkett/Files)

George Osborne has become the latest high profile British politician to publish their tax returns in the wake of the Panama Papers Leak.

The Chancellor’s finances for the last financial year were released by the treasury, showing, as suggested yesterday by a source, that he has no off shore income.

He had a total taxable income of £198,738 – including £44,647 in the form of dividends and rental income of £33,562 – meaning a net income tax bill of £72,210.

George Osborne has published a copy of his tax returns. The colourful border is just for you (Picture: Treasury)

David Cameron said earlier today that he believe the Chancellor should follow his lead in publishing his tax affairs.

The Prime Minister’s official spokeswoman said he thinks it is right for PMs, ‘potential prime ministers’, chancellors and shadow chancellors to ‘show greater transparency’ by putting information about the taxes they pay into the public domain.

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A Treasury source had said that Mr Osborne was ‘happy to consider’ ways to offer greater transparency, after he came under pressure from Labour and the Scottish National Party to match Mr Cameron’s publication of information from his own tax returns dating back to 2009-10.

The broken down tax returns show that the Chancellor make less money renting out his home than the Prime Minister but would still be in the higher tax band on his dividend income alone.